MCEWEN MINING ANNOUNCES Q1 2017 OPERATING & FINANCIAL RESULTS

TORONTO, May 4, 2017 – McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) is pleased to report consolidated financial results for the first quarter ended March 31, 2017. Increased investments in exploration and project development, particularly related to our Los Azules copper project, were the key feature of the quarter. As a result, the Company reported a net loss of $3.0 million or $0.01 per share and negative cash flow of $8.6. million or $0.03 per share. During the quarter McEwen Mining achieved consolidated production of 29,733 gold equivalent ounces(1). The Company remains on track to meet production and cost guidance for 2017. The El Gallo mine produced 9,808 gold equivalent ounces(1) and reported earnings from mining operations of $8.2 million(2)(4) and the San José mine produced 19,925 gold equivalent ounces(1) and reported earnings from mining operations of $5.7 million(2)(4).